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JavaScript miner for Monero closes on the eve of the upcoming coin hardfork: reasons

Mining

06/03/19 11:45UTC-4

JavaScript miner for Monero closes on the eve of the upcoming coin hardfork: reasons

Popular Monero tokens JavaScript-miner announced the closure on the eve of the upcoming coin hardfork

Monero JavaScript miner, Coinhive service, officially closes on March 8th. Customer service dashboards will be available until April 30, 2019. That is, users will be able to receive payments if the current balance exceeds the minimum "threshold" of payments.

The closure of the popular JavaScript-service for the miningMining– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation.
Details of Monero cryptocurrency, because "it is no longer economically viable." The fact that the service will be closed was reported on the company's official blog at the end of February. Today, the topic of closing has become more urgent and interesting than ever, because very soon Monero is waiting for hardforkHardfork – a fundamental change in the source code, incompatible with the old protocol and the used software.Details.

Recall that Cryptorbit.Media already wrote about several hardforks of popular cryptocurrencies: Ethereum Constantinople and Tron February 28th.

Monero JavaScript miner – Coinhive closing

On March 8, the mining service will completely stop its work. Although many are confident that this popular for many hackers miner will go into "shadow mode".

At the same time, it is worth noting that Coinhive has long been outdated. The advent of cloud mining pushed the previously popular JavaScript miners into the past.

The technology of writing scripts for mining has now become available to everyone. Thanks to modern browsers, mine crypto via the CPU can be done independently – most likely this was the main reason for the closure.

The mining service blog has the following reasons for termination: "Hashing rates fell (over 50%) after the last Monero hardfork hit our system hard. The same thing happened with the "collapse" of the cryptocurrency market, when the cost of XMR depreciated by more than 85% during the year. This and the announcement of the March 9 update of the hardfork and the Monero network algorithm led us to the conclusion that we need to close Coinhive" – Coinhive blog.

Popular JavaScript-miner for Monero announced the closure on the eve of the upcoming coin hardfork. "Thank you all for the wonderful time we spent together" – this is how the once most popular service for XMR mining said goodbye to its customers. How Monero hardfork will pass and what changes it can bring to the coin, read on the Cryptorbit.Media website.

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